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Cable Update (GBPUSD)

  • #853,521
  • Feb 8, 2025 8:06pm Feb 8, 2025 8:06pm
Quoting TooSlow
{quote} If a comment on a trading forum can trigger you, look inside and figure out how to break the trigger so no one can do this to you.
Just like how you get trigger; don't like criticism and ban people from your threads?

It takes a lot for me to IGNORE you, but you can try.
  • #853,522
  • Edited 9:19pm Feb 8, 2025 8:09pm | Edited 9:19pm
Quoting 7154Superman
{quote} I would not recommend prop account trading to newbies. Most of them are scams. Plus their rules are too restrictive to be able to trade high enough risk to actually gain explosive compounding rates as well as explore your risk appetite to see how you respond to different scenarios. I did try demo accounts. It didn't give me the motivation I get to learn a successful trading system like a $100 live account does. I make $200+ per day from my taxi/hauling business. So, I can afford to lose $100-200 in order to learn how to trade, then maybe...
Thats why i told u, gaming prop firm is the 3rd step, if fail. If success after 2nd step (live account), you can apply to real prop firm that hire u, give you salary, bonus, and 1M trading account.

In the real world, I’ve gone from zero—starting with nothing, crawling my way up—to graduating medical school and becoming a doctor. It’s not easy in any country around the world. One of the hardest school. In live trading, I failed to grow my account to $1M, even though I had some small wins; they were inconsistent. That’s just the reality of good psychology—if you succeed, admit it, and if you fail, admit it.

But in truth, the 99% who fail in forex, scattered everywhere year after year, are the prime examples to learn from if you want to avoid failure. It’s not the 1% who succeed, like Jim Simons or Richard Dennis, because they have other aspects you don’t understand. The same goes for some friends in this forum who’ve won big—they might have their own hidden edges, besides hardwork and really good skills; and Luck!

As traders, don't ever mock others when they are down, because they might mock you if you fall and they rise. Up and Down every day, every month and every year.

Cheers
fooled by randomness in art
Meditation All Time Return: 8.9%
  • #853,523
  • Feb 8, 2025 8:16pm Feb 8, 2025 8:16pm
Quoting 7154Superman
{quote} To be honest with you, I already had all that "surfing the waves" figured out 3-4 years ago, but I didn't stick to it because I thought I could find something better than that. It turns out that was the best and most accurate type of trading observation I ever had. At that time, I didn't fully realize how good it was. Now, after over 5 years, I have tried everything else that seemed to be a good way for me to trade and I have come back to this simple system I was aware of from the beginning, but was too impatient to be content with the process....
good post
Intraday only.
  • #853,524
  • Feb 8, 2025 10:04pm Feb 8, 2025 10:04pm
GBP weekend review and anticipation as to what this one may be doing. MM seem to be accumulating LONG heavily. The H4 trend commencing on 23/01 only lasted a relatively short period of time before the MM's allowed price to reaccumulate around what perhaps is our now relevant price of 1.242 ish. Could be H15 / M5 opportunities if trend systems indicate trend commencement above this price. AUD is very similar; EUR needs to get itself sorted and is not as clear. Notwithstanding sessional opportunities this coming week the MM seem to be accumulating LONG heavily on the slower TF giving energy under current prices. Dips seem only for the purpose of grabbing more inventory to sell at higher prices in the coming weeks / months.

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  • #853,525
  • Feb 9, 2025 12:57am Feb 9, 2025 12:57am
buying this pair would be a difficult choice.
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  • #853,526
  • Edited 3:26am Feb 9, 2025 3:07am | Edited 3:26am
Hi All,

Here's my H4, I'm thinking a break higher first, then lower. IF the trend line breaks to the downside, I'll be holding to the 1.22300 zone. IF price continues to find trend line support, I'll trade accordingly.

Good Luck
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  • #853,527
  • Feb 9, 2025 3:12am Feb 9, 2025 3:12am
I think he will come back. after fvg goes up
  • #853,528
  • Feb 9, 2025 6:47am Feb 9, 2025 6:47am
How do you start a thread? will start one Monday giving trading signals which are pinpointed. Not vague nonsense, it will be exact.
  • #853,529
  • Edited 8:55am Feb 9, 2025 8:40am | Edited 8:55am
Quoting MoneyPrinte
{quote} This looks really good! Perhaps adding a bullish/bearish sentiment indicator in the table could make it even easier to understand, especially for those of us who aren't economists. Just a suggestion
I’m not an economist either, but I often deal with all the indicators they use and their purposes. Most of them are quite confusing. So this is my interpretation outside their domain: If the M2 calculation result of a currency shows inflation, then it weakens; if deflation, then it strengthens. In this case, GBP is strengthening and USD is expected to weaken, so the last candle or bar from last week looked like that. Perhaps waiting for the data to be released. A brief review here: https://www.forexfactory.com/thread/...2#post15143932 So still this time GBP Bullish.

In Dec and Jan, USA is having fun, partying, while the UK seems to be saving, resting, and worshiping in Jan and Feb. Lel
fooled by randomness in art
Meditation All Time Return: 8.9%
  • #853,530
  • Feb 9, 2025 2:21pm Feb 9, 2025 2:21pm
GBPUSD price action on the daily time frame is presently in a bearish mode. On Wednesday, bulls made a futile attempt to retest a broken rising channel trendline; but bears resisted the challenge. Recent technical prints favour further southward market engineering. The dominant technical structure is bearish.

I may be wrong. Trade safe and prosper.

KP

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Do your homework, follow the footprints of smart money
  • #853,531
  • Feb 9, 2025 3:37pm Feb 9, 2025 3:37pm
Quoting RoelsMajor
{quote} I’m not an economist either, but I often deal with all the indicators they use and their purposes. Most of them are quite confusing. So this is my interpretation outside their domain: If the M2 calculation result of a currency shows inflation, then it weakens; if deflation, then it strengthens. In this case, GBP is strengthening and USD is expected to weaken, so the last candle or bar from last week looked like that. Perhaps waiting for the data to be released. A brief review here: https://www.forexfactory.com/thread/...2#post15143932...
I appreciate your perspective! Economic indicators can definitely be complex, and M2 is an interesting one to interpret in the context of inflation and currency strength. Your reasoning makes sense—higher M2 growth often aligns with inflationary pressures, which can weaken a currency, while lower growth or contraction can signal deflation, potentially strengthening it.
That said, I’m not a contrarian—I just want to share my outlook based on data-driven seasonal trends. Looking at historical performance across 5 different periods, GBP has consistently closed bearish at the end of the month FEBRUARY. Also, January’s closing as a red candle suggests sellers were strong, and with the first week of February closing inside January’s range, it indicates that sellers are still in control.
Even though the COT report shows bullish movement for commercial traders, my indicators suggest that GBP might be in an accumulation phase, potentially building liquidity for a bigger sell-off before preparing for an April rally, based on historical trends. Of course, this is just my bias, but it’s something I’m considering.
Appreciate the discussion and your insights!"*..i share below some screenshot for Seasonal trends,line forecast and COT for visualization.
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https://x.com/moneyprinte
  • #853,532
  • Feb 9, 2025 3:49pm Feb 9, 2025 3:49pm
It looks like another big gap down due to more Trump tariff breaking news.
https://www.forexfactory.com/news/13...m#post15144089
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You cannot fail if you never give up.
  • #853,533
  • Feb 9, 2025 4:05pm Feb 9, 2025 4:05pm
So my plan for now is to try to buy dips on EUR/USD with my +5% TP (+10.4 pips) and -4.761% SL (-9.9 pips) system.
But caution is advised because the bottom line of the flag hasn't been reached yet.
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You cannot fail if you never give up.
  • #853,534
  • Feb 9, 2025 4:11pm Feb 9, 2025 4:11pm
GBP/USD .... still Bearish Bias.

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  • #853,535
  • Feb 9, 2025 5:15pm Feb 9, 2025 5:15pm
Twice now I considered entering long at both those dips, and twice I decided no because the spread was too high (2-3 pips instead of 1.5 pips). Both times would had hit the TP. LoL
But it's ok. There will be a dozen more opportunities every day for long or short scalps. No rush. No FOMO.
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You cannot fail if you never give up.
  • #853,536
  • Feb 9, 2025 5:15pm Feb 9, 2025 5:15pm
now that futures opened they giving trumpy the finger LOL

nobody seems to be listening to him anymore on tariffs
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short trump and go long the deepstate
  • #853,537
  • Feb 9, 2025 5:18pm Feb 9, 2025 5:18pm
Quoting 7154Superman
Twice now I considered entering long at both those dips, and twice I decided no because the spread was too high (2-3 pips instead of 1.5 pips). Both times would had hit the TP. LoL But it's ok. There will be a dozen more opportunities every day for long or short scalps. No rush. No FOMO. {image}

you do know futures open an hour later and that's when spreads tighten up right?
short trump and go long the deepstate
  • #853,538
  • Feb 9, 2025 5:18pm Feb 9, 2025 5:18pm
im off to watch the superbowl...go eagles
short trump and go long the deepstate
  • #853,539
  • Feb 9, 2025 5:19pm Feb 9, 2025 5:19pm
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“Now, 2 patterns of market behavior happen on a regular basis:
1) the price breaks to new high's (or low's)
2) the price reverses from new high's (or low's)
They happen regardless of time frame.
They are phenomena that can be exploited without the fear if found out by others, that they might cease to exist.” - H. Rearden


Price Action #advancedalientrading

1) Price will either breakout of the high, low or both of the previous bar
2) Price will not breakout of the previous bar.
3) Price will either close above a level (line) or not.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #853,540
  • Feb 9, 2025 5:23pm Feb 9, 2025 5:23pm
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yes yes yes
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